In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was between 35% and 70%. At the end of 2001, it is below 8%. We setup a small structural macro model of these economies to explain the process of disinflation. Contrary to a widespread skepticism, which permeated a large...

This article explores the political dynamics that have led to the adoption of inflation targeting in Israel, within the context of a broader process of policy paradigm shift. We consider inflation targeting as an institutional arrangement with far reaching consequences for the distribution of...